Biban 2025 Forum Kicks Off with Over $6bn in Deals and Initiatives
The first day of the Biban 2025 forum in Riyadh saw more than $6 billion in financing agreements and new initiatives aimed at boosting entrepreneurship and innovation.
Riyadh: The Biban 2025 forum, held under the theme 'A Global Destination for Opportunities,' launched over 30 agreements and memoranda of understanding focused on enhancing entrepreneurship and establishing Saudi Arabia as a global hub for innovation.
Notable among these was a series of large banking deals led by the Small and Medium Enterprises General Authority (Monsha’at), which signed agreements totaling SR22.3 billion ($5.94 billion) with major banks in the country.Monsha’at's key signings included a SR5 billion agreement with Riyad Bank, a SR4 billion pact with Al Rajhi Bank, and a SR2 billion deal with Arab National Bank.
Additional agreements were reached with Alinma Bank (SR1 billion), Bank AlJazira (SR1 billion), and Banque Saudi Fransi (SR700 million).
A memorandum of understanding was also signed with the Saudi National Bank to develop innovative funding solutions.Beyond banking, Monsha’at expanded its partnerships through cooperation agreements with significant entities.
These included a pact with Saudi Aramco to support enterprises under the 'Tomouh' program, an agreement with the Social Development Bank for entrepreneurial financing and training, and a partnership with Reef Saudi Academy to empower agricultural entrepreneurs.Several financial institutions unveiled new portfolios to support business growth.
For instance, Bank Albilad introduced two financing portfolios worth SR3.1 billion: SR2.9 billion designated for entrepreneurs and SMEs, and SR200 million for fast-growth companies.
The Saudi National Bank launched a SR5 billion portfolio offering flexible financing solutions.
Meanwhile, the Saudi First Bank implemented a digital service enabling instant business account openings for micro-enterprises.Monsha’at utilized the forum to initiate several digital programs, such as an artificial intelligence track in its virtual lab designed to assist startups in adopting AI technologies and a cybersecurity program targeting over 500 enterprises.
The National Cybersecurity Authority complemented these efforts by launching a new cybersecurity accelerator.The 'Kafala' financing guarantee program signed agreements worth SR300 million with institutions like Tarmeez Capital and Bidaya Finance, while the SME Bank finalized two deals totaling SR220 million with Aljabr Finance and Yanal Finance Co. to improve capital access for entrepreneurs.Global outreach was emphasized through memoranda of understanding signed with international organizations.
Monsha’at collaborated with Japan’s JETRO and Korea’s KOSME on knowledge exchange and policy development, partnered with the Korea Institute of Startup and Entrepreneurship Development and Thailand's National Innovation Agency for tech startup support, and forged agreements with Enterprise Singapore and the Swedish Trade and Invest Council to develop joint incubators, accelerators, and international expansion programs.Monsha’at also secured a memorandum of understanding with India’s Ministry of Commerce under the 'Startup India' initiative, focusing on incubator and mentorship development.
Additionally, it signed an agreement with France's Business France for capacity-building workshops and partnered with LinkedIn to conduct training sessions and workshops for high-growth firms, as well as with Standard Chartered Capital for the 'Women in Tech' program aimed at supporting female-led startups.These extensive partnerships reflect Monsha’at’s strategy of building a comprehensive support system for entrepreneurs, aligning with Saudi Vision 2030 goals that seek to expand the SME sector, promote innovation, and drive economic diversification.
Notable among these was a series of large banking deals led by the Small and Medium Enterprises General Authority (Monsha’at), which signed agreements totaling SR22.3 billion ($5.94 billion) with major banks in the country.Monsha’at's key signings included a SR5 billion agreement with Riyad Bank, a SR4 billion pact with Al Rajhi Bank, and a SR2 billion deal with Arab National Bank.
Additional agreements were reached with Alinma Bank (SR1 billion), Bank AlJazira (SR1 billion), and Banque Saudi Fransi (SR700 million).
A memorandum of understanding was also signed with the Saudi National Bank to develop innovative funding solutions.Beyond banking, Monsha’at expanded its partnerships through cooperation agreements with significant entities.
These included a pact with Saudi Aramco to support enterprises under the 'Tomouh' program, an agreement with the Social Development Bank for entrepreneurial financing and training, and a partnership with Reef Saudi Academy to empower agricultural entrepreneurs.Several financial institutions unveiled new portfolios to support business growth.
For instance, Bank Albilad introduced two financing portfolios worth SR3.1 billion: SR2.9 billion designated for entrepreneurs and SMEs, and SR200 million for fast-growth companies.
The Saudi National Bank launched a SR5 billion portfolio offering flexible financing solutions.
Meanwhile, the Saudi First Bank implemented a digital service enabling instant business account openings for micro-enterprises.Monsha’at utilized the forum to initiate several digital programs, such as an artificial intelligence track in its virtual lab designed to assist startups in adopting AI technologies and a cybersecurity program targeting over 500 enterprises.
The National Cybersecurity Authority complemented these efforts by launching a new cybersecurity accelerator.The 'Kafala' financing guarantee program signed agreements worth SR300 million with institutions like Tarmeez Capital and Bidaya Finance, while the SME Bank finalized two deals totaling SR220 million with Aljabr Finance and Yanal Finance Co. to improve capital access for entrepreneurs.Global outreach was emphasized through memoranda of understanding signed with international organizations.
Monsha’at collaborated with Japan’s JETRO and Korea’s KOSME on knowledge exchange and policy development, partnered with the Korea Institute of Startup and Entrepreneurship Development and Thailand's National Innovation Agency for tech startup support, and forged agreements with Enterprise Singapore and the Swedish Trade and Invest Council to develop joint incubators, accelerators, and international expansion programs.Monsha’at also secured a memorandum of understanding with India’s Ministry of Commerce under the 'Startup India' initiative, focusing on incubator and mentorship development.
Additionally, it signed an agreement with France's Business France for capacity-building workshops and partnered with LinkedIn to conduct training sessions and workshops for high-growth firms, as well as with Standard Chartered Capital for the 'Women in Tech' program aimed at supporting female-led startups.These extensive partnerships reflect Monsha’at’s strategy of building a comprehensive support system for entrepreneurs, aligning with Saudi Vision 2030 goals that seek to expand the SME sector, promote innovation, and drive economic diversification.
